JAKARTA - PT Onix Capital Tbk (OCAP) will buy back 32.78 million shares or 12% of the fully paid up and issued capital. This plan is accompanied by efforts to go private following a number of its business lines not optimally contributing to revenue.

In an information disclosure quoted on Monday (15/1), this company set a purchase price of IDR 200 per share or a maximum total of IDR 6.5 billion. The source of funds for buyback comes from shareholder loans. Therefore, OCAP's liabilities will increase by IDR 6.55 billion from the position of liabilities as of December 2022 of IDR 230.24 billion.

As of November 2023, OCAP's authorized capital is IDR 218.56 billion. The issued and fully paid capital is IDR 54.64 billion with the owner structure including, UOB Kay Hian (Hong Kong) Ltd 45.003%, Djajusman Suryowijono 35.002%, Hardjanto A 7.9995%, and the public 12%. Portepel shares at IDR 163.92 billion.

This issuer has a number of business lines, including stock trading, investment and clinics. PT Onix Sekuritas, a company engaged in stock trading and PT Menteng Medika Indonesia (MMI) is in the liquidation process, and PT Onix Investama (OI) is a company in the field of other consulting activities.

In the two years from 2021-2022, this issuer has not gained any income from its business line. The company's losses rose to IDR 31.68 billion in 2022 from IDR 9.28 billion in 2021. (LK/LM)